Published on 2/24/2016 in the Prospect News Municipals Daily.
New Issue: New York City prices $800.01 million general obligation bonds
By Sheri Kasprzak
New York, Feb. 24 – The City of New York sold $800.01 million of series 2016 general obligation bonds, according to a pricing sheet.
The deal included $750,035,000 of series 2016C bonds and $49,975,000 of series 2016D bonds.
The 2016C bonds are due 2017 to 2035 with coupons from 2% to 5%. The 2016D bonds are due 2016 to 2035 with 2% to 5% coupons.
The bonds were sold on a negotiated basis with Jefferies & Co., BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC.
Proceeds will be used to redeem existing bonds.
| Issuer: | City of New York
|
| Issue: | Series 2016 general obligation bonds
|
| Amount: | $800.01 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co., BofA Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC (lead), Barclays, Hilltop Securities, Loop Capital Markets LLC, Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, Goldman Sachs & Co., Lebenthal & Co. LLC, Ramirez & Co. Inc., Rice Financial Products Co., Wells Fargo Securities LLC, Blaylock Beal Van LLC, Cabrera Capital Markets LLC, TD Securities (USA) LLC and Drexel Hamilton LLC (co-managers)
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 10
|
|
|
| $750,035,000 series 2016C bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $34.01 million | 2017 | Serial | 3% | 103.462
|
| $34,005,000 | 2018 | Serial | 5% | 110.256
|
| $2.13 million | 2019 | Serial | 3% | 107.172
|
| $31.87 million | 2019 | Serial | 5% | 113.845
|
| $1.66 million | 2020 | Serial | 4% | 112.766
|
| $40.11 million | 2020 | Serial | 5% | 117.05
|
| $1,715,000 | 2021 | Serial | 3% | 109.425
|
| $42,215,000 | 2021 | Serial | 5% | 119.839
|
| $465,000 | 2022 | Serial | 4% | 115.71
|
| $50.36 million | 2022 | Serial | 5% | 121.799
|
| $4.5 million | 2023 | Serial | 2% | 102.566
|
| $46.32 million | 2023 | Serial | 5% | 123.377
|
| $3.78 million | 2024 | Serial | 4% | 117.147
|
| $47.04 million | 2024 | Serial | 5% | 124.907
|
| $8,335,000 | 2025 | Serial | 4% | 117.513
|
| $42,485,000 | 2025 | Serial | 5% | 126.057
|
| $50,825,000 | 2026 | Serial | 5% | 125.88
|
| $50,825,000 | 2027 | Serial | 5% | 124.766
|
| $50,825,000 | 2028 | Serial | 5% | 123.663
|
| $50.83 million | 2029 | Serial | 5% | 122.869
|
| $33,155,000 | 2030 | Serial | 5% | 122.178
|
| $27,925,000 | 2031 | Serial | 5% | 121.297
|
| $19,065,000 | 2032 | Serial | 5% | 120.521
|
| $19,065,000 | 2033 | Serial | 5% | 120.328
|
| $28.02 million | 2034 | Serial | 3% | 99.02
|
| $28.5 million | 2035 | Serial | 4% | 108.501
|
|
|
| $49,975,000 series 2016D bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.75 million | 2016 | Serial | 2% | 100.704
|
| $2,095,000 | 2017 | Serial | 4% | 104.107
|
| $2,095,000 | 2018 | Serial | 5% | 110.256
|
| $2,095,000 | 2019 | Serial | 5% | 113.845
|
| $2.26 million | 2020 | Serial | 5% | 117.05
|
| $2,285,000 | 2021 | Serial | 5% | 119.839
|
| $3,125,000 | 2022 | Serial | 5% | 121.799
|
| $3.13 million | 2023 | Serial | 5% | 123.377
|
| $3.13 million | 2024 | Serial | 5% | 124.907
|
| $3.13 million | 2025 | Serial | 5% | 126.057
|
| $3,125,000 | 2026 | Serial | 5% | 125.88
|
| $3,125,000 | 2027 | Serial | 5% | 124.766
|
| $3,125,000 | 2028 | Serial | 5% | 123.663
|
| $3.12 million | 2029 | Serial | 5% | 122.869
|
| $1,335,000 | 2030 | Serial | 5% | 122.178
|
| $1.4 million | 2031 | Serial | 5% | 121.297
|
| $1.34 million | 2032 | Serial | 3% | 100
|
| $1,335,000 | 2033 | Serial | 3% | 99.327
|
| $1.98 million | 2034 | Serial | 3% | 99.02
|
| $1,995,000 | 2035 | Serial | 3% | 98.693
|
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